Black Friday and the Thanksgiving Holiday appear to have generated some much needed shopping dollars for retailers who have otherwise been struggling in the economic turmoil. Cyber Monday, or the day following the Thanksgiving holiday weekend, is often considered the single biggest online shopping day of the year. Question is, what will it mean this year?
According to Shop.org, 84.6 million consumers plan to shop online from home or work on Cyber Monday. This is an increase from 72 million in 2007 and 60.7 million in 2006. The survey also found that 37.2% of adults will shop on Cyber Monday, up 16.6% over last year, with 63% indicating that they will shop online from work during the holiday season. Despite these predictions, online commerce declined for the first time in November and many e-tailers are expecting slower-than-usual sales for “Cyber Monday.”